Nufarm (NUF) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional landowners and confirmation of quorum.

• Hybrid format enabled both in-person and online participation, with voting and Q&A facilitated digitally.

• Board members, executive team, auditor, and returning officer introduced; housekeeping and participation instructions provided.

Financial performance review

• FY24 was challenging due to industry-wide inventory backlogs and heightened competition, resulting in lower EBIT and a statutory net loss.

• Net debt reduced by 25% year-on-year; net leverage at 2x EBITDA.

• Strong growth in Asia and new product introductions contributed over 15% of revenue.

• Omega-3 canola revenue target met; Carinata expansion in South America and pre-commercial trials in Europe and Australia.

• Cost-saving and inventory reduction initiatives on track, aiming for AUD 50 million in annualized savings and a 25-day reduction in inventory by FY25.

Board and executive committee updates

• Brendan Ryan welcomed as new CFO; Vicki Carlson introduced as new lead audit partner for KPMG.

• David Jones stood for re-election as non-executive director, emphasizing innovation and board expertise.